But the only other thing you can find like it is a prestige item at $42. We feel that if we can offer an extraordinary value proposition, it resonates with consumers.Ī great example is we recently launched our Halo Glow Beauty Wands. And we do not plan to take additional pricing. But since then, we haven't taken any additional pricing. And that was in response to a lot of the inflationary pressures people, companies are facing. We took pricing in March of 2022, so over a year ago. What are you doing, I guess, more specifically, on that pricing strategy, given the fact that inflation has remained very sticky? How much of that have you or are you planning to pass along to your consumer, given the fact that it hasn't improved at the rate or eased, I should say, that maybe we were initially expecting? And it's definitely resonating with consumers. And we're particularly well-positioned within that category with our incredible value proposition of bringing the best of beauty and making it accessible, our powerhouse innovation, and our marketing engine. It's one of those small luxuries everyone can afford.
So our business is really resonating with consumers.Īnd I think what you're seeing in the macro is I'm quite bullish on color cosmetics and mass beauty. We finished our fiscal year with net sales up 48%, grew over 270 basis points of market share. This is our 17th consecutive quarter of net sales growth. TARANG AMIN: Well, you know, I think we've been really fortunate. What are you seeing as consumers have to face higher prices and have to kind of prioritize? You know, it was the thing that we heard over and over, especially from some of the big name retailers, who are saying consumers are still buying cosmetics. Beauty chief executive officer and chairman Tarang Amin. For a closer look into the state of beauty- the beauty sector, we have E.l.f. Countless retailers have pointed to the choppy consumer environment, yet there seems to be a bright spot in cosmetics. Video TranscriptĪKIKO FUJITA: Consumers continue to face a challenging economic environment amid rising rates and elevated inflation. Beauty Chairman and CEO, joins Yahoo Finance Live to discuss the beauty brand's results, the state of the beauty sector, pricing, and consumer spending trends. Beauty's fourth quarter results topped analyst estimates despite slowing consumer spending.
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